RNC Capital Management LLC Sells 17,030 Shares of Philip Morris International Inc. (NYSE:PM)


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RNC Capital Management LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 315,019 shares of the company’s stock after selling 17,030 shares during the period. RNC Capital Management LLC’s holdings in Philip Morris International were worth $26,080,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Formidable Asset Management LLC raised its stake in shares of Philip Morris International by 2.0% during the third quarter. Formidable Asset Management LLC now owns 6,080 shares of the company’s stock valued at $454,000 after acquiring an additional 120 shares during the last quarter. Summit Financial Wealth Advisors LLC raised its stake in shares of Philip Morris International by 2.2% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 5,599 shares of the company’s stock valued at $420,000 after acquiring an additional 122 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Philip Morris International by 9.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,624 shares of the company’s stock worth $134,000 after buying an additional 134 shares during the period. Pure Financial Advisors Inc. increased its position in shares of Philip Morris International by 3.8% during the third quarter. Pure Financial Advisors Inc. now owns 3,672 shares of the company’s stock worth $275,000 after buying an additional 135 shares during the period. Finally, Rossmore Private Capital increased its position in shares of Philip Morris International by 0.7% during the third quarter. Rossmore Private Capital now owns 18,779 shares of the company’s stock worth $1,408,000 after buying an additional 138 shares during the period. 73.98% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on PM shares. Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a research report on Friday, January 8th. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $100.00 in a research report on Wednesday, October 7th. BidaskClub cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Wednesday, December 23rd. Edward Jones cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 15th. Finally, Piper Sandler increased their price objective on shares of Philip Morris International from $98.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Buy” and a consensus price target of $96.31.

NYSE:PM traded up $0.14 during trading hours on Wednesday, reaching $81.21. The company had a trading volume of 3,197,756 shares, compared to its average volume of 5,107,022. The firm has a market cap of $126.47 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.15 and a beta of 0.78. The business’s 50-day simple moving average is $81.85 and its two-hundred day simple moving average is $77.58. Philip Morris International Inc. has a twelve month low of $56.01 and a twelve month high of $90.17.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 5.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 11th. Stockholders of record on Wednesday, December 23rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend was Tuesday, December 22nd. Philip Morris International’s dividend payout ratio is currently 92.49%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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